{"id":1004714221,"date":"2024-05-21T03:04:35","date_gmt":"2024-05-21T11:04:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004714221"},"modified":"2024-05-28T10:11:19","modified_gmt":"2024-05-28T18:11:19","slug":"12-msf-mixed-use-project-moves-forward","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/12-msf-mixed-use-project-moves-forward\/","title":{"rendered":"12 MSF Mixed-Use Project Moves Forward"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img decoding=\"async\" data-attachment-id=\"1004714236\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/12-msf-mixed-use-project-moves-forward\/viva-masterplan\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/VIVA-Masterplan-e1716286592950.jpg\" data-orig-size=\"1200,901\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"VIVA White Oak\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/VIVA-Masterplan-e1716286592950.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/VIVA-Masterplan.jpg\" alt=\"VIVA White Oak\" class=\"wp-image-1004714236\" style=\"width:400px\"\/><figcaption class=\"wp-element-caption\">The VIVA White Oak masterplan currently calls for more than 6 million square feet of commercial space. <em>Image courtesy of MCB Real Estate<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>MCB Real Estate, of Baltimore, will lead the development for VIVA White Oak, a long-delayed mixed-use project in Silver Spring, Md. Groundbreaking is expected in the second half of 2025.<\/p>\n\n\n\n<p>The county has already approved the 280-acre site for more than 12 million square feet of development. The property is adjacent to the U.S. Food and Drug Administration headquarters and near the Adventist HealthCare White Oak Medical Center, with direct access to U.S. Route 29.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/life-science-prospects-are-looking-up-jll\/\">Life Science Prospects Are Looking Up<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>The developer is currently working with stakeholders and public officials to refine the master plan. As of now, it calls for more than 6 million square feet of retail and office spaces with a focus on the life sciences sector, which implies the presence of R&amp;D facilities and biomedical\/biotech labs. In addition, there will be up to 4,500 residences and more than 85 acres of open space, including forested nature trails, parks and other public spaces.<\/p>\n\n\n\n<p>Global LifeSci Development Corp., an affiliate of Percontee Inc., is a minority partner in the project.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">A decade in the making<\/h2>\n\n\n\n<p>A decade ago, Global LifeSci partnered with Montgomery County for the development of VIVA White Oak. The mixed-use campus was initially slated to comprise some 7 million square feet and cost around $3 billion. The partners held a groundbreaking ceremony in 2018, followed by the demolition of some of the site&#8217;s existing structures.<\/p>\n\n\n\n<p>However, the project never moved forward due to insufficient financing, as it wasn\u2019t economically justified. Despite the development being considered \u2018ready to go\u2019, land entitlements were not complete for any segment of the project to qualify for a building permit.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Space plus time<\/h2>\n\n\n\n<p>During a panel discussion with other life science real estate executives at a RevistaLab event, Wilkingson Germain, CEO of MCB Science+Health, described VIVA White Oak as more of a 20-year endeavor than a five-year project. <\/p>\n\n\n\n<p>Germain envisioned the development\u2019s medical office component near or adjacent to the Advent Health side of the site. The life science campus, expected to total approximately 2 million square feet, would be located on the FDA side.<\/p>\n\n\n\n<p>He explained, \u201cThere are a lot of groups that want to be close to the FDA and want to be part of some of the partnerships the FDA can provide, so I think there are also research institutions that want to be connected to a project like this.\u201d<\/p>\n\n\n\n<p>Just two weeks ago, a joint venture of <a href=\"https:\/\/www.commercialsearch.com\/news\/mcb-generation-properties-break-ground-on-dc-area-115m-mixed-use\/\">MCB Real Estate and Generation Properties broke ground<\/a> on a $115 million mixed-use project in Waldorf, Md., in metro Washington, D.C. On completion in spring 2026, The Shops at Fairway Village will comprise 120,000 square feet of grocery, retail and restaurant space, as well as 186 residential units.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Life science and R&#038;D space will be central to this development on a site adjacent to the FDA\u2019s headquarters.<\/p>\n","protected":false},"author":882,"featured_media":1004714236,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,11,21752,21742,1615],"tags":[36695,49291],"class_list":["post-1004714221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-midatlantic","category-mixed-use","category-latest","category-washington-dc","tag-life-science-real-estate","tag-mcb-real-estate"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/VIVA-Masterplan-e1716286592950.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004714221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004714221"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004714221\/revisions"}],"predecessor-version":[{"id":1004715179,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004714221\/revisions\/1004715179"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004714236"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004714221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004714221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004714221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}